Yahoo Inc. (Nasdaq: YHOO) and Comcast-owned NBC Sports Group have struck a joint content and promotions deal covering the Web and regular television. The deal includes provisions to develop original video programs for the Web and the rights for Yahoo! Sports to offer live streams from NBC's top live sporting events, including Sunday Night Football. Financial terms were not disclosed.
Netflix Inc. (Nasdaq: NFLX) and CEO Reed Hastings received a "Wells Notice" from the Securities and Exchange Commission (SEC)threatening civil action over alleged disclosure violations about five months after Hastings posted on Facebook that the company's streaming totals "exceeded 1 billion hours" in June. Hastings maintained in an SEC statement that the disclosure was not material, that a posting to more than 200,000 people on Facebook is "very public," and that Netflix is optimistic that it will quickly clear up the matter. Netflix stock spiked more than 6 percent after the post on July 3, but Hastings argues that shares were rising before that, and "likely driven" by a positive research report from Citigroup the evening before. (See Netflix Sets Streaming Record .)
HBO CTO Bob Zitter is retiring on March 31, 2013, after more than three decades with the premium programmer, reports Multichannel News, noting that the cable pioneer will continue to serve the company as a consultant "for several months afterward" as a yet-to-be-named successor moves into the role. Among his achievements, Zitter oversaw HBO's digital transition in 1992, its move into HDTV in 1999 and he was the technical lead for HBO's jump into video-on-demand and multi-screen, TV Everywhere services. He joined HBO in 1981, and was inducted into the Cable Hall of Fame in 2006.